Review the information presented in Case $12$ HJ Heinz: Estimating the cost of Capital in Uncertain Times $($Bruner$,$ R$.,$ Eades, K$.$M$.,$ and Schill M$.$J$.$ Case Studies in Finance$)$

Review the cost of capital recommendation made my Sheppard. Analyze the cost of capital.

Do you agree with the steps used and calculations made by Sheppard.

Did you find any errors?

What changes would you make to the cost of capital recommendation? Please explain the rationale for the changes you identify.

Prepare a $1-2$ page review of the cost of capital.